Just In: Intrigues, Suspense as Court Gives Fresh Verdict on CBN Governor’s Case

Just In: Intrigues, Suspense as Court Gives Fresh Verdict on CBN Governor’s Case

  • A new date has been fixed for the hearing of the CBN Governor's case regarding the $53 million judgement debt arising from the Pars Club refund
  • In a fresh ruling on Wednesday, January 18, the court in Abuja adjourned the case till March 20th, without a reason
  • Meanwhile, a legal practitioner, Joe Agi, SAN, had obtained a judgment summons against the CBN governor following his alleged refusal to obey the order of court for the payment of the judgment debt

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On Wednesday, January 18, 2203, the Summon of the Governor of the Central Bank (CBN), Godwin Emefiele, by the Federal High Court Abuja over a $53 million judgement debt arising from the Pars Club refund, has been adjourned to March 20.

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No reason was given for the adjournment by the Court, Channels TV reported.

The Governor of CBN, Mr Godwin Emefiele, $53 million judgment debt, Paris Club refund, a Federal High Court
Court summons CBN Governor Godwin Emefiele over $53 million judgment debt. Photo credit: Godwin Emefiele
Source: Facebook

Court's fresh verdict

Justice Inyang Ekwo of the Federal high court Abuja had Summoned him on October 20, last year following an application for garnishee made by a senior advocate of Nigeria, Joe Agi, the judgment creditor.

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The court granted the application and ordered Emefiele to appear in court on Wednesday, January 18, The Sun Newspaper report added.

How Emefiele landed in trouble

The dispute stemmed from an alleged $70 million judgment against Linas International Ltd for the lawyer’s (Joe Agi) assistance with the Paris Club refund.

Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million.

The court had on January 23, 2020, ruled that Emefiele must appear to be examined on oath touching the means he had, since the date of the said garnishee order absolute, to pay the balance of $53 million now due and payable under the said garnishee order absolute, and also show cause why you should not be committed to prison for default in payment of the said sum”

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DSS move to interrogate bank CEOs over foreign exchange allocations dating back to 2017

Nigeria’s secret Police, the Department of State Security Services (DSS) has begun an investigation into the forex received by and allocations to bank customers by each bank in the country and the involvement of the Central Bank of Nigeria (CBN).

The move comes at a time of heightened searchlight on the governor of CBN, Godwin Emefiele who reportedly resumed work on Monday, January 16, 2022, after reports that he will be arrested on allegations of fraud and terrorism financing.

BusinessDay report said the bank CEOs have been given the deadline of Wednesday, January 18, 2023, to come up with detailed information about the privileged individuals and entities that have got foreign exchange allocations since 2017 to date.

Important CBN policies that will affect Nigerians from January as Emefiele's tenure winds down 2023

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Battleline drawn as Emefiele appeals court summons, challenges judge

Legit.ng reported that in 2023, Nigeria will mark another milestone in its democratic journey, all things being equal.

The country will transit from one civilian rule to another, marking 23 years that civilians have held power since 1999.

Alongside the political changes that would herald 2023 will come economic policies and programmes shaping the country's economy.

Source: Legit.ng

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